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Saudi Arabia and Russia
- The leaders are Saudi Arabia and Russia, which produce and 9 million and 9.3 million barrels per day (bpd) of oil respectively.
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Under this definition (crude and condensate), total world oil production in 2023 averaged 81,804,000 barrels per day. Approximately 72% of world oil production came from the top ten countries, and an overlapping 35% came from the twelve OPEC members.
CountryContinentCrude Oil Production December 2023 (bbl ...13,308,000Russia (OPEC+)Europe / Asia10,272,000Saudi Arabia (OPEC)8,950,0004,990,000- Educational Content Specialist
- United States. Production: 20,213,000 bpd. Number one on this list of the top 10 oil-producing countries is the US. Its output increased by 1,232,000 bpd from its 2021 level to reach 20,213,000 bpd in 2022.
- Saudi Arabia. Production: 12,144,000 bpd. Saudi Arabia’s oil output came in at 12,144,000 bpd in 2022. The country possesses 17 percent of the world’s proven petroleum reserves and is the largest petroleum exporter.
- Russia. Production: 10,938,000 bpd. Prior to production cuts in 2020, Russian oil output had spent a number of years rising; it came in at 10,938,000 bpd in 2022.
- Canada. Production: 5,694,000 bpd. Next on this list of the top 10 oil-producing nations is Canada. The country’s annual oil production rose to 5,694,000 bpd in 2022, up from 2021’s output amount of 5,537,000 bpd.
Aug 8, 2024 · In 2023, oil production in OPEC countries stood at some 34 million barrels per day. Saudi Arabia is by far the largest producer and also leading the list of global oil exports of OPEC...
Jul 25, 2024 · Saudi Arabia is by far the leading producer of crude oil among OPEC member states. In 2023, it reported an average daily production of roughly 9.6 million barrels. Iraq ranked second, at nearly...
According to current estimates, 79.1% (1,241.33 billion barrels) of the world's proven crude oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 67.3% of the OPEC total.
Nov 13, 2024 · OPEC member countries produce about 40 percent of the world's crude oil. Equally important to global prices, OPEC's oil exports represent about 60 percent of the total petroleum traded internationally.
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Sep 11, 2022 · These 13 countries collectively supply over 40% of crude oil production and hold over 80% of world oil reserves.
